Start trading the instruments of your choice on the XM MT4 and MT5, available for both PC and MAC, or on a variety of mobile devices. Alternatively, you may also want to try out the XM WebTrader, instantly accessible from your browser.

In addition our range of platforms for Apple and Android mobile devices will seamlessly allow you to access and trade on your account from your smartphone or tablet with full account functionality.

Risk Warning: Trading on margin products involves a high level of risk.

XM sets high standards to its services because quality is just as decisive for us as for our clients. We believe that versatile financial services require versatility in thinking and a unified policy of business principles.

Our mission is to keep pace with global market demands and approach our clients’ investment goals with an open mind.

Risk Warning: Trading on margin products involves a high level of risk.

Traders’ focus will centre on Fed Chairman Jerome Powell today when he makes his key address at the Jackson Hole Economic Symposium at 14:00 GMT. Speculation as to how dovish Powell’s speech will be have intensified following some hawkish remarks from other Fed officials.

Kansas City Fed President Esther George, who’s hosting the event in Wyoming, followed up her fellow dissenter Eric Rosengren’s recent hawkish comments, saying “I’d be happy to leave rates here”. Philadelphia Fed President Patrick Harker was also cautious and seemed in no hurry to support another rate cut. Dallas Fed President Robert Kaplan was a bit more dovish, however, suggesting he is open to more cuts.

Although Harker and Kaplan are not voting members this year, their diverging views highlight strong divisions within the Federal Open Market Committee on the course of monetary policy in the United States, making Powell’s comments ever more important today. Investors have fully priced in a 25-basis point cut at the September meeting and any indication that this is not a done deal could throw markets off guard.

However, given President Trump’s relentless criticism of the Fed, it will be difficult for Powell to signal anything other than more easing so traders will be focusing on whether there’s been any change to the central bank’s view that the current round of rate cuts is merely a mid-cycle adjustment.

Dollar crawls higher; yields briefly invert again

US Treasury yields extended their rebound from the lows of last week, though that didn’t stop the 10- and two-year yields from inverting briefly yesterday. Recession risks have heightened again on disappointment that tax cuts in the US are not imminent and on doubts about the pace of easing by the Federal Reserve. Moreover, flash manufacturing PMIs out of the Eurozone yesterday came in better than expected but showed the sector was still contracting, while the US manufacturing PMI dipped below 50 for the first time since 2009.

Nevertheless, there was little demand for safe havens and the yen was broadly weaker on Friday and gold was headed for a third straight day of losses, falling to around $1495 an ounce. The precious metal was also pressured by a firmer dollar, which is on track for modest weekly gains of 0.2% against a basket of currencies. Against the yen, the greenback was slightly up at 106.65.

Concerns about the growth outlook were more evident in the Chinese yuan, which skidded to another decade-low, hitting 7.0983 per dollar in onshore trading. The China-sensitive Australian dollar was flirting with key support around $0.6740 but the New Zealand dollar was one of the day’s best performers, rising to $0.6395 after RBNZ Governor Adrian Orr hinted that he was happy with where rates are at the moment.

Pound jumps on renewed optimism of a Brexit deal

The British pound rallied to a 3½-week high of $1.2271 yesterday after UK prime minister, Boris Johnson, managed to secure a negotiating window with the European Union to come up with alternatives to the backstop. The German and French leaders agreed to give Johnson a loose 30-day timeframe to put forward alternative plans on how a hard border between Ireland and Northern Ireland can be avoided once Britain leaves the single market.

However, although the French president, Emmanuel Macron, showed some flexibility on the issue of the backstop, he indicated a wider renegotiation of the Withdrawal Agreement would not be possible.

Still, this was the first positive development on Brexit since Johnson took over as prime minister on July 23 and while many traders remain dubious about the likelihood of the UK government being able to come up with a viable solution to the Irish border issue, it leaves the door wide open for a possible deal before October 31.

Legal disclaimer:
The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Trading Point Holdings Ltd is the holding company of Trading Point of Financial Instruments Limited, XM Global Limited, Trading Point of Financial Instruments UK Limited, Trading Point of Financial Instruments Pty Ltd, Trading Point MENA Limited.

Trading Point of Financial Instruments Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence number: 120/10). XM Global Limited is authorised and regulated by the International Financial Services Commission (IFSC) (60/354/TS/19). Trading Point of Financial Instruments UK Limited is authorised and regulated by the Financial Conduct Authority (FRN: 705428). Trading Point of Financial Instruments Pty Ltd is authorised and regulated by the Australian Securities and Investment Commission (AFSL 443670). Trading Point MENA Limited is authorised and regulated by the Dubai Financial Services Authority (DFSA) (Reference No. F003484).

Restricted regions: Trading Point of Financial Instruments Limited does not provide investment and ancillary services in the territories of third countries.

This website uses cookies

By clicking “Continue”, you agree to the default cookie settings on our website.

XM uses cookies to ensure that we provide you with the best experience while visiting our website. Some of the cookies are needed to provide essential features, such as login sessions, and cannot be disabled. Other cookies help us improve our website’s performance and your experience through personalising content, providing social media features and analysing our traffic. Such cookies may also include third-party cookies, which might track your use of our website. You may change your cookie settings at any time.

Your cookie settings

Cookies are small data files. When you visit a website, the website sends the cookie to your computer. Your computer stores it in a file located inside your web browser.

Cookies do not transfer viruses or malware to your computer. Because the data in a cookie does not change when it travels back and forth, it has no way to affect how your computer runs, but they act more like logs (i.e. they record user activity and remember stateful information) and they get updated every time you visit a website.

We may obtain information about you by accessing cookies, sent by our website. Different types of cookies keep track of different activities. For example, session cookies are used only when a person is actively navigating a website. Once you leave the website, the session cookie disappears.

Why are cookies useful?

We use functional cookies to analyse how visitors use our website, as well as track and improve our website’s performance and function. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. For example, we might use cookies to keep track of which website pages are most popular and which method of linking between website pages is most effective. The latter also helps us to track if you were referred to us by another website and improve our future advertising campaigns.

Another use of cookies is to store your log in sessions, meaning that when you log in to the Members Area to deposit funds, a "session cookie" is set so that the website remembers that you have already logged in. If the website did not set this cookie, you will be asked for your login and password on each new page as you progress through the funding process.

In addition, functional cookies, for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.

Here is an overview of some of the functions our cookies provide us with:

Verifying your identity and detecting the country you are currently visiting from

Checking browser type and device

Tracking which site the user was referred from

Allowing third parties to customize content accordingly

This website uses Google Analytics, a web analytics service provided by Google, Inc. ("Google"). Google Analytics uses analytical cookies placed on your computer, to help the website analyze a user's use of the website. The information generated by the cookie about your use of the website (including your IP address) may be transmitted to and stored by Google on their servers. Google may use this information to evaluate your use of the website, to compile reports on website activity and to provide other services related to website activity and internet usage. Google may also transfer this information to third parties, where required to do so by law, or where such third parties process the information on behalf of Google. Google will not associate your IP address with any other data held. By using this website, you give your consent to Google to process data about you in the manner and for the purposes set out above.

Change Settings

Please select which types of cookies you want to be stored on your device.

Functional cookiesThese cookies are essential for the running of our website. Without these cookies our websites would not function properly. These are saved temporarily as login information and expire once the browser is closed.

Analytical cookiesThe information provided by analytical cookies allows us to analyse patterns of visitor behaviour and we use that information to enhance the overall experience or identify areas of the website which may require maintenance. The information is anonymous (i.e. it cannot be used to identify you and does not contain personal information such as your name and email address) and it is only used for statistical purposes. Behavioral cookies are similar to analytical and remember that you have visited a website and use that information to provide you with content which is tailored to your interests.

Promotional cookiesThese cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

Preferences cookiesPreference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.

XM Live Chat

By clicking the "Enter" button, you agree for your personal data provided via live chat to be processed by Trading Point of Financial Instruments Limited, as per the Company's Privacy Policy, which serves the purpose of you receiving assistance from our Customer Support Department.

If you do not give your consent to the above, you may alternatively contact us via the Members Area or at support@xm.com.

All incoming and outgoing telephone conversations, as well as other electronic communications (including chat messages or emails) between you and us will be recorded and stored for quality monitoring, training and regulatory purposes.